Market Conditions in 10022>Question Details

Vic Parise,  in 10022

Vic Parise is wondering what everyone thinks about the NYC housing market?Does someone think it will?

Asked by Vic Parise, 10022 Tue Aug 5, 2008

decline at all? If so how much, how long, nothing is forever...

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There have been modest declines in some areas of the market, especially in cooperatives where there is a lot of inventory. However, condominiums continue to increase in price due to all of the foreign buyers now. With the weak U.S Dollar, Europeans are snapping up condos which is helping to keep the overall average prices up. I handle soley high-end condominiums and we're seeing foreign buyers by the "boatload" now...thank goodness as they are doing wonders for the NYC economy. Our office is having a record year again for sales...we've already surpassed 2007 numbers as of the middle of August.
0 votes Thank Flag Link Thu Aug 28, 2008
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